News

PTCA Press Releases

Alliance, OH – October 23, 2017 – PTC Alliance announced that it has reached an agreement with USW Local No. 3059-1 to end the work stoppage at its Alliance, Ohio plant. The agreement was reached on Sunday, October 22 and union employees began returning to work on Sunday evening.

We wanted to provide you with an update regarding the labor situation at our Alliance, Ohio plant. We negotiated with the union from mid-July until the members elected to go on strike on August 18, 2017.

After the strike began we initially operated the Alliance plant with salaried employees and a few temporary workers. As soon as it became clear that negotiations could take some time, we quickly brought in a significant number of temporary replacement workers. Over the last few weeks we have been successful at increasing our output of quality DOM and ERW tubing. In addition, with the support of many customers, we have moved a large number of orders to our other plants that have been operating without issue.

Alliance, OH – August 25, 2017 – PTC Alliance Corp. said today that it is scaling up production at its Alliance, Ohio facility.

“I’d like to thank the leadership team, the salaried employees of the Alliance plant and the workers from our other operations who have come together to make it possible for us to continue to support our customers,” said Cary Hart, President and Chief Executive Officer of PTC Alliance. “After less than a week of operating, production is stabilized and in fact we are ramping up our output. Each day the number of loaded trucks leaving the plant increases.”

Pittsburgh, PA – May 16, 2017 – PTC Alliance Corp. said today that customers who do business with its plant in Darlington, Pennsylvania can rest assured that they will continue to receive the same high quality products under normal delivery schedules while the Company seeks to reach a consensual agreement with the union at that plant.

Wexford, PA, July 28, 2016 – PTC Group Holdings Corp., a leading manufacturer of welded and DOM steel tubing and related products, announced today the completion of an amendment and extension of its current term loan and revolver. The Company said that its existing term loan agreement and ABL, which were due to expire under their terms later in 2016, have been extended until late 2019. The transactions will increase PTC’s liquidity and provide it with flexibility to expand on its leadership position in the precision tubing and bar market.

Cary Hart, CEO and President of PTC Group said, “We want to thank our existing term loan lenders and our ABL lender, JP Morgan Chase, for their support in connection with this extension. This action will make it possible for the Company to continue to invest in our world class technology in support of our existing and potential new customers and markets.”

Wexford, PA- Effective immediately, Cary Hart will assume the additional duties of Chief Executive Officer at PTC Group Holdings along with his current duties as President and Board Member.

Cary has been with the Company for 18 years in various roles within Operations, Sales and his most recent role as President of both PTC Alliance and PTC Group Holdings. Christopher W. Parker, Chairman of the Board of PTC Group Holdings and Senior Managing Director at Black Diamond Capital Management, stated, “It gives me great pleasure to extend my congratulations to Cary Hart on his new role as CEO of PTC Group Holdings. The Board of Directors is confident that Cary will be a champion of operational excellence and revenue growth as we move into a future focused on PTC’s core business.”

WEXFORD, Pa., August 27, 2015 /PRNewswire/ PTC Group Holdings Corp. (“PTC”, or “Company”) a leadingmanufacturer of welded and DOM steel tubing and related products announced today that it has finalized anagreement with JPMorgan Chase (“Chase”), under which Chase will provide a $65 million secured loan facility.In addition, PTC announced that affiliates of Black Diamond Capital Management, LLC, the Company’s privateequity sponsor, has made an additional investment of $10 million.

The Board of Directors of PTC Group Holdings Corp. announced today that Peter Whiting has resigned as Chairman, President and CEO to pursue new opportunities and spend more time with his family. Mr. Whiting’s departure is effective as of June 12, 2015. In addition, the Board has elected Christopher W. Parker as Chairman of the Board, Curtis G. Solsvig III as Chief Executive Officer and Director, and Cary Hart as President and Director, all effective June 12, 2015, as well.